Great Lakes Advisors LLC Buys New Stake in Cadence Design Systems, Inc. $CDNS

Great Lakes Advisors LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,703 shares of the software maker’s stock, valued at approximately $4,392,000.

Several other hedge funds also recently added to or reduced their stakes in CDNS. Danske Bank A S acquired a new position in shares of Cadence Design Systems during the second quarter worth about $50,000. Diversify Advisory Services LLC acquired a new stake in shares of Cadence Design Systems in the second quarter valued at about $2,738,000. Oxbow Advisors LLC acquired a new position in Cadence Design Systems during the 2nd quarter worth approximately $3,897,000. Wealthfront Advisers LLC acquired a new stake in Cadence Design Systems in the second quarter valued at approximately $12,772,000. Finally, M.D. Sass LLC acquired a new stake in Cadence Design Systems in the second quarter valued at approximately $4,837,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CDNS shares. Oppenheimer reissued a “market perform” rating and set a $300.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Piper Sandler upped their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $405.69.

Cadence Design Systems Price Performance

CDNS opened at $314.98 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a 50-day moving average of $356.42 and a 200-day moving average of $331.22. The company has a market capitalization of $86.74 billion, a P/E ratio of 62.62, a PEG ratio of 3.40 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.Cadence Design Systems’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Equities analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the transaction, the vice president directly owned 124,586 shares of the company’s stock, valued at $40,281,145.52. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 141,486 shares of company stock valued at $54,908,817 over the last quarter. 0.49% of the stock is owned by company insiders.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.